1st Sep 2015 10:02
LONDON (Alliance News) - Berkeley Energy Ltd Tuesday said it has received results from a series of holes drilled on the Zona 7 deposit at the Salamanca uranium project in Spain.
The Salamanca project is comprised of the Retortillo, Alameda, Zona 7 and Gambuta deposits plus a number of other satellite deposits.
The company has received results for an initial 39 holes that have been drilled on Zona 7 which have shown that the continuity of the mineralised zone is "good and in line with expectations, both in terms of grade and thickness," it said.
The main intercepts include:
- 40 metres at 949 parts per million triuranium octoxide
- 26 metres at 1,103 parts per million triuranium octoxide
- 22 metres at 1,257 parts per million triuranium octoxide
- 21 metres at 1,150 parts per million triuranium octoxide
- 8 metres at 1,173 parts per million triuranium octoxide
- 6 metres at 1,422 parts per million triuranium octoxide
- 5 metres at 1,800 parts per million triuranium octoxide
"As previously advised given the very positive impact the Zona 7 resource is expected to have on the project's overall economics the board has decided to push ahead with the permitting required to rapidly incorporate this resource into the overall development plans," said Berkeley.
The current total mineral resource for the entire Salamanca project stands at 85.2 million tonnes at 470 parts per million triuranium octoxide for a total of 88.2 million pounds of triuranium octoxide.
Berkeley Energy shares were up 8.6% to 19.00 pence per share on Tuesday morning.
By Joshua Warner; [email protected]; @JoshAlliance
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